Lau Associates LLC Increases Position in Philip Morris International Inc. (PM)
Lau Associates LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 170.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,690 shares of the company’s stock after acquiring an additional 5,479 shares during the quarter. Lau Associates LLC’s holdings in Philip Morris International were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in PM. Principal Financial Group Inc. increased its position in Philip Morris International by 1.7% during the first quarter. Principal Financial Group Inc. now owns 2,849,402 shares of the company’s stock worth $283,231,000 after acquiring an additional 47,965 shares during the period. United Capital Financial Advisers LLC boosted its stake in Philip Morris International by 17.6% during the first quarter. United Capital Financial Advisers LLC now owns 94,265 shares of the company’s stock worth $9,370,000 after buying an additional 14,078 shares in the last quarter. Hancock Holding Co. boosted its stake in Philip Morris International by 10.7% during the first quarter. Hancock Holding Co. now owns 15,089 shares of the company’s stock worth $1,499,000 after buying an additional 1,460 shares in the last quarter. LPL Financial LLC boosted its stake in Philip Morris International by 48.9% during the first quarter. LPL Financial LLC now owns 495,711 shares of the company’s stock worth $49,274,000 after buying an additional 162,732 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in Philip Morris International during the first quarter worth $994,000. 72.73% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $93.00 target price on shares of Philip Morris International in a research note on Friday, July 13th. Morgan Stanley reduced their target price on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. Cowen downgraded shares of Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price on the stock. in a research note on Friday, July 20th. Citigroup set a $90.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Stifel Nicolaus reduced their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.00.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. On average, sell-side analysts forecast that Philip Morris International Inc. will post 5.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 annualized dividend and a yield of 5.54%. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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